Raoom GA Distributes 6.2 mln for 2H of 2021 and Elects Members of BOD

Raoom Trading Company announced on Wednesday the results of the Extraordinary General Assembly meeting (the first meeting), which is represented in distributing 6.2 mln for 2H of 2021 and electing of Members of BOD which was held in 06/12/2022 via modern technology (remotely). Where the quorum was completed and the attendance rate for the first meeting was 86.15328% of the shares representing the capital.

The voting results on the items of the General Assembly’s Meeting Agenda’s:

• Approval of the report of the Board of Directors for the fiscal year ending on December 31, 2021
• Approval of the company’s auditor’s report for the fiscal year ending on December 31, 2021
• Approval of the financial statements for the fiscal year ending on December 31, 2021
• Approval to absolve the members of the Board of Directors from liability for the fiscal year ending on December 31, 2021
• Approval of the appointment of Bakr Tilly MKM & Co., Chartered Accountants, the company’s auditor, from among the candidates based on the audit committee’s recommendation; This is for examining, reviewing and auditing the financial statements for the fiscal year 2022, for the first and annual half of the fiscal year 2022 from 2023, and determining its fees.
• Approval of the Board of Directors’ recommendation to distribute cash dividends to shareholders for the second half of 2021 in the amount of 6,250,000 at (1.25 riyals and twenty-five halalas per share, which represents 12.5% ​​of the nominal value of one share, provided that the eligibility is for the shareholders who own the shares at the end of trading day Assembly meeting 06/14/2022 and those registered in the company’s shareholders register with the Securities Depository Centre Company (Tadawul) at the end of the second trading day following the due date (profits will be distributed on 06/26/2022)
• Approving the amendment of Article No. (2) of the company’s articles of association, the name of the company (Raoum Commercial Closed Joint Stock Company (Closed Joint Stock Company)) to (Raoum Commercial Joint Stock Company Listed) ((Listed Joint Stock Company / Public))
• Approval of authorizing the Board of Directors to distribute interim cash dividends to shareholders on a semi-annual or quarterly basis for the fiscal year 2022
• Approval of the election of the members of the Board of Directors from among the candidates for the next session, which begins on 17-06-2022 and has a duration of three years, and ends on 16-06-2025. The following names are: 1- Mr. Abdulaziz bin Abdullah Al-Hamid 2- Mr. Hamid bin Abdullah Al-Hamid 3- Mr. Badr bin Hamad Al-Qadi 4- Mr. Saleh bin Abdullah Al-Arefi.
• 10_Approval of the formation of the audit committee, defining its tasks, working controls, and remuneration of its members for the new term starting from 06/17/2022 until the end of the session on 06/16/2025, they are:
• Saleh Abdullah Al-Arefi
• Badr Hamad Al-Qadi
• Sultan Ahmed Al-Shubaily